CVS | 11127 Jefferson Ave
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CVS 11127 Jefferson Ave
13,225 SF Retail Building Newport News, VA 23601 £5,585,996 (£422/SF) 8.50% Net Initial Yield
Investment Highlights
- CVS HEALTH CORP: INVESTMENT GRADE CREDIT TENANT (S&P: BBB+) • LARGEST PHARMACY IN THE U.S. • REVENUES OF $357.8 BILLION •
- WITHIN 1 MILE OF MAJOR MEDICAL CENTERS • JUST 2 MILES FROM CHRISTOPHER NEWPORT UNIVERSITY • PROXIMITY TO LANGLEY AFB & NASA’S LANGLEY RESEARCH CENTER
- NEWPORT NEWS: A SUBURB OF NORFOLK, 2ND-MOST POPULOUS CITY IN VIRGINIA • SITE OF NAVAL STATION NORFOLK, WORLD’S LARGEST NAVAL INSTALLATION
- 10 YEARS REMAINING ON LEASE TERM • LONG-TERM PASSIVE INCOME STREAM • ABSOLUTE NNN LEASE
- HARD CORNER SIGNALIZED INTERSECTION OF JEFFERSON AVE & HARPERSVILLE RD (COMBINED 67,600+ CPD) • ACROSS FROM WALMART NEIGHBORHOOD MARKET
Executive Summary
The CVS Absolute Triple Net Lease (NNN) investment opportunity, offering investors a secure, passive income stream with zero management responsibilities. Nestled in the heart of Newport News, this CVS is strategically positioned in a high-traffic area, ensuring continuous visibility and foot traffic. Newport News is a dynamic city with a robust economy driven by a diverse range of sectors including maritime, defense, and technology. Located at the hard corner signalized intersection of Jefferson Ave & Harpersville Rd (67,600 cars per day), and across from a Walmart Neighborhood Market.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
13,225 SF
Building Class
B
Year Built
2009
Price
£5,585,996
Price Per SF
£422
Net Initial Yield
8.50%
NOI
£474,791
Tenancy
Single
Number of Floors
1
Building FAR
0.13
Land Acres
2.33 AC
Zoning
C-2
Parking
64 Spaces (4.84 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Route
- Pylon Sign
- Signage
- Drive Thru
PROPERTY TAXES
| Parcel Number | 240.00-04-10 | Improvements Assessment | £2,315,802 |
| Land Assessment | £1,753,513 | Total Assessment | £4,069,315 |
PROPERTY TAXES
Parcel Number
240.00-04-10
Land Assessment
£1,753,513
Improvements Assessment
£2,315,802
Total Assessment
£4,069,315
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Ryan Bennett -
Drew Olson -
Tom Whelan -
Lee & Associates
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CVS | 11127 Jefferson Ave
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